FIRST SABREPOINT CAPITAL MANAGEMENT LP
CIK 1731530 · View on SEC EDGAR ↗
- Portfolio value
- $304.1M
- Positions
- 27
- As of
- June 30, 2026
#5,146 of 9,443 by 13F value · top 54.5%
Portfolio value QoQ: +10.3% 13F does not disclose cash
- Top 10 holdings weight
- 67.98%
- Top 25 holdings weight
- 99.30%
- Positions above 1%
- 23
- Effective number of positions
- 14.9
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 27.19% Est. buys $78,799,683 · sells $80,676,005
Median holding: 2.0 quarters Tracked Q4 2024–Q2 2026 · 25.0% still held
- New positions
- 9
- Increased
- 10
- Decreased
- 5
- Closed
- 10
Put-notional exposure: 0.9% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +31.1% · S&P 500: +18.0%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 100.0% · Options excluded: 16.8%
Sector breakdown
Consumer Staples
18.3%
Industrials
14.0%
Financial Services
12.2%
Energy
9.2%
Retail
6.6%
Consumer products
3.7%
Technology
3.3%
Diversified Consumer Services
3.0%
Consumer Discretionary
2.8%
Other/Unmapped
26.9%
Full portfolio 27 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| TPB Turning Point Brands, Inc. Common Stock | $40,708,800 | 13.39% | 480,000 | $5,992,800 | Up ×1 | ||
| FCFS FirstCash Holdings, Inc. - Common Stock | $37,229,321 | 12.24% | 172,103 | $3,925,685 | Down ×3 | ||
| Unknown issuer (CUSIP: 90041L905) | $33,058,938 | 10.87% | 389,800 | Call option | $2,430,747 | Up ×2 | |
| Unknown issuer (CUSIP: 91167Q900) | $18,310,500 | 6.02% | 450,000 | Call option | Up ×1 | ||
| STRL Sterling Infrastructure, Inc. - Common Stock | $16,787,200 | 5.52% | 20,000 | $8,641,800 | |||
| EGY VAALCO Energy, Inc. Common Stock | $16,764,000 | 5.51% | 3,300,000 | $7,888,000 | Up ×1 | ||
| TFIN TFIN | $11,828,050 | 3.89% | 155,000 | $5,226,134 | Up ×2 | ||
| CVCO Cavco Industries, Inc. - Common Stock | $11,366,030 | 3.74% | 18,500 | $-4,634,912 | Down ×1 | ||
| AMRZ Amrize Ltd Ordinary Shares | $10,660,000 | 3.51% | 200,000 | $128,240 | Up ×1 | ||
| UCTT Ultra Clean Holdings, Inc. - Common Stock | $9,981,300 | 3.28% | 70,000 | $2,208,800 | Down ×1 | ||
| BTI British American Tobacco Industries, p.l.c. Common Stock ADR | $9,881,600 | 3.25% | 160,000 | $1,111,100 | Up ×1 | ||
| NPKI NPK International Inc. Common Stock | $9,546,000 | 3.14% | 600,000 | $1,576,500 | Up ×1 | ||
| LAUR Laureate Education, Inc. - Common Stock | $9,030,605 | 2.97% | 248,640 | $390,285 | Up ×1 | ||
| MTDR Matador Resources Company Common Stock | $8,960,400 | 2.95% | 180,000 | $431,100 | Up ×1 | ||
| TH Target Hospitality Corp. - Common Stock | $8,551,200 | 2.81% | 420,000 | $2,966,709 | Down ×1 | ||
| Unknown issuer (CUSIP: 89679E900) | $7,631,000 | 2.51% | 100,000 | Call option | Up ×1 | ||
| BBW Build-A-Bear Workshop, Inc. Common Stock | $6,447,844 | 2.12% | 210,645 | $-602,156 | Up ×1 | ||
| Unknown issuer (CUSIP: 33768G907) | $6,338,176 | 2.08% | 29,300 | Call option | |||
| SFM Sprouts Farmers Market, Inc. - Common Stock | $5,497,700 | 1.81% | 65,000 | $484,250 | |||
| RUSHA Rush Enterprises, Inc. - Class A Common Stock | $5,473,875 | 1.80% | 75,000 | Up ×1 | |||
| LWAY Lifeway Foods, Inc. - Common Stock | $5,072,800 | 1.67% | 170,000 | Up ×1 | |||
| AZO AutoZone, Inc. Common Stock | $4,793,910 | 1.58% | 1,500 | $-3,650,540 | Down ×2 | ||
| BOOT Boot Barn Holdings, Inc. Common Stock | $3,285,400 | 1.08% | 20,000 | Up ×1 | |||
| Unknown issuer (CUSIP: 011659959) | $2,610,000 | 0.86% | 50,000 | Put option | Up ×1 | ||
| KOS Kosmos Energy Ltd. Common Shares (DE) | $2,110,000 | 0.69% | 1,000,000 | $-670,000 | |||
| Unknown issuer (CUSIP: 91232N907) | $1,852,056 | 0.61% | 17,400 | Call option | Up ×1 | ||
| Unknown issuer (CUSIP: 74347Y954) | $274,400 | 0.09% | 10,000 | Put option | Up ×1 | ||
| No matches | |||||||
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| Unknown issuer (CUSIP: 91167Q900) | $18,310,500 | 450,000 | 6.02% |
| Unknown issuer (CUSIP: 89679E900) | $7,631,000 | 100,000 | 2.51% |
| Unknown issuer (CUSIP: 33768G907) | $6,338,176 | 29,300 | 2.08% |
| RUSHA | $5,473,875 | 75,000 | 1.80% |
| LWAY | $5,072,800 | 170,000 | 1.67% |
| BOOT | $3,285,400 | 20,000 | 1.08% |
| Unknown issuer (CUSIP: 011659959) | $2,610,000 | 50,000 | 0.86% |
| Unknown issuer (CUSIP: 91232N907) | $1,852,056 | 17,400 | 0.61% |
| Unknown issuer (CUSIP: 74347Y954) | $274,400 | 10,000 | 0.09% |
Top movers (QoQ)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| PM | June 30, 2025 | 100,000 | $15,873,000 | 4.2% |
| MSFT | March 31, 2026 | 25,000 | $12,090,500 | 30.2% |
| LOPE | June 30, 2026 | 58,000 | $9,861,740 | 1.5% |
| EEFT | June 30, 2025 | 90,000 | $9,616,500 | -31.6% |
| CVSA | June 30, 2026 | 80,000 | $9,220,000 | 2.5% |
| VST | March 31, 2025 | 65,000 | $8,961,550 | 18.5% |
| BTU | June 30, 2026 | 250,000 | $8,237,500 | 19.2% |
| ICHR | June 30, 2026 | 170,000 | $7,923,700 | -46.8% |
| AGM | March 31, 2026 | 44,500 | $7,812,865 | 49.5% |
| HAS | March 31, 2026 | 94,765 | $7,770,730 | 0.3% |
| EEFT | March 31, 2026 | 101,155 | $7,698,907 | 4.5% |
| MAA | Dec. 31, 2025 | 55,000 | $7,685,150 | -5.0% |
| CPT | Sept. 30, 2025 | 65,000 | $7,324,850 | 1.3% |
| TLN | March 31, 2025 | 35,000 | $7,051,450 | 58.1% |
| ENTG | June 30, 2026 | 55,000 | $6,448,200 | -19.5% |
| PGNY | March 31, 2026 | 250,000 | $6,420,000 | 52.9% |
| BL | Sept. 30, 2025 | 100,000 | $5,662,000 | -41.1% |
| VSNT | June 30, 2026 | 150,000 | $5,553,000 | 7.9% |
| GRBK | Dec. 31, 2025 | 70,000 | $5,170,200 | 14.7% |
| WDAY | June 30, 2025 | 21,500 | $5,020,895 | -18.6% |
| AESI | Sept. 30, 2025 | 350,000 | $4,679,500 | 14.0% |
| TFIN | June 30, 2025 | 80,000 | $4,624,000 | 36.0% |
| WSC | March 31, 2025 | 135,000 | $4,515,750 | -20.3% |
| NVGS | June 30, 2025 | 246,204 | $3,276,975 | 58.1% |
| TPR | March 31, 2025 | 50,000 | $3,266,500 | 85.6% |
| PARR | June 30, 2026 | 50,000 | $3,132,000 | 32.9% |
| BLD | June 30, 2026 | 8,000 | $2,810,400 | No longer tracked |
| DHI | March 31, 2025 | 19,949 | $2,789,269 | 16.7% |
| NVR | Sept. 30, 2025 | 370 | $2,732,694 | -21.2% |
| PHM | March 31, 2025 | 25,000 | $2,722,500 | 24.6% |
| MTH | March 31, 2025 | 17,500 | $2,691,850 | 1.0% |
| OPRA | Dec. 31, 2025 | 130,000 | $2,683,200 | 30.4% |
| GOGO | Sept. 30, 2025 | 170,000 | $2,495,600 | -69.0% |
| CIEN | June 30, 2025 | 40,000 | $2,417,200 | 391.3% |
| COLD | June 30, 2026 | 171,774 | $1,968,530 | -3.7% |
| IMXI | June 30, 2025 | 154,599 | $1,951,039 | 39.2% |
| WD | March 31, 2026 | 30,000 | $1,804,500 | -9.3% |
| COOK | March 31, 2026 | 1,219,575 | $1,317,141 | 87.6% |
| OABI | June 30, 2025 | 410,000 | $984,000 | 147.1% |
| GBFH | June 30, 2026 | 28,302 | $757,362 | -31.0% |
| BBW | Sept. 30, 2025 | 2,262 | $116,629 | -40.2% |